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A.M. Best Co.
A.M. Best Report: Life/Health Insurers Feel Wrath of Global Economic Downturn
February 27th, 2009
U.S. life/health insurers’ ratings were relatively unscathed at the beginning of the economic downturn in 2007, but 2008 brought a quick reversal of fortune. The global economic crisis—specifically, the damage inflicted on insurers’ investment portfolios—took a toll on ratings and outlooks. In 2008, rating actions for the life/health industry were overwhelmingly negative, with 43 rating downgrades vs. only 14 upgrades. In the life/annuity sector, downgrades outpaced upgrades by a wide margin, with 31 downgrades for life insurers vs. only eight upgrades. In the life/annuity segment, the impact of the global financial meltdown, with...
Source: Health Business Week (2009-02-27)
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